BAKU, Azerbaijan, April 23. Development of a number of gas fields in Iran will begin with the provision of necessary investment, Reza Aghebati, the official of engineering and development at the National Iranian Oil Company (NIOC), said at the "Investment and Development in Iran's Oil and Gas Sector" Forum, held in Tehran on April 22, Trend reports.
He said that an $18 billion investment in the South Pars gas field (North Dome in Qatar), a joint gas field between Iran and Qatar, will increase gas production by seven billion cubic feet (about 198 million cubic meters) per day.
Aghebati also mentioned that an $8.3 billion investment in the Central Oil Zones Company of Iran will add 5.5 billion cubic feet (about 156 million cubic meters) of gas per day.
The official pointed out that an investment of $9 billion is planned in the Offshore Oil Company of Iran to add three billion cubic feet (about 85 million cubic meters) to the gas production potential per day.
"With an investment of $5 billion in the territory of the National Company for the Southern Oil Zones of Iran, gas production will increase by about two billion cubic feet (about 56.6 million cubic meters) per day. With an investment of $200 million in the territory of the Arvandan Gas Company, production will be added by 200 million cubic feet (about 5.66 million cubic meters) per day," he explained.
Aghebati added that a total of 71 trillion cubic feet (about 2.01 trillion cubic meters) of gas with daily production capacity of seven billion cubic feet (about 198 million cubic meters) can be produced from undeveloped gas fields in Iran's onshore areas, and various offer packages have been prepared for investors in onshore gas fields, starting at $50 million.
A total of 74 oil fields and 22 gas fields are currently operating in Iran. There are 37 oil fields in the territory of the National Company of Iran's Southern Oil Zones, 14 in the territory of the Iranian Central Oil Zones Company, five in the territory of the Arvandan Oil and Gas Production Company, and 18 in the territory of the Offshore Oil Company. Additionally, the South Oil Zones National Company of Iran operates five gas fields, the Central Oil Zones Company operates 13, the Pars Oil and Gas Company operates one, and the Offshore Oil Company operates three.
Iran's total hydrocarbon reserves are 1.2 trillion barrels. Iran can produce 340 billion barrels of this gas with existing technological equipment. Iran can use about 30 percent, while 70 percent remains unused underground.
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